Overview of the global enterprise social networks and online communities market with reference to the global ICT market
The global digital ecosystem has been continuously evolving over the last few years. The worldwide ICT sector has witnessed some key disruptions of late and governments of various economies are devising and implementing smart and inclusive regulations to govern sector penetration and facilitate technology connectivity to all parts of the world. Even as the world of technology prepares for a massive revolution with unimaginable advancements powered by machine intelligence, here are some of the key drifts presently trending the global ICT sector:
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Persistence Market Research collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
In this phase, Persistence Market Research validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
Standard Report Structure
Key Questions Answered
By Enterprise Type
By Industry Type
Growing usage of social media among enterprises impacting the market positively
Different types of social media platforms are being increasingly used in various types of organizations and business houses. Examples of these include Google+ and Office 365, and such type of software are being majorly used by various professionals and companies for the purpose of communication and sharing of files/documents and information. In addition, professionals also communicate with different entities outside the organization for the purpose of different job-related openings and opportunities, apart from engaging in promotional and marketing activities. Organizations are spending a lot on advertising the launch of new products, details regarding product discounts and other offers in order to increase their sales and also enhance their brand visibility online. Also, companies are even connecting with their business partners through such portals and platforms in real time. Due to the growing adoption of social media and increasing use by organizations, the market for enterprise social networks and online communities is expected to receive a huge boost during the period of assessment.
Increasing use of content analytics driving the growth of the global market
Content analytics is another aspect that is driving the market for enterprise social networks and online communities. With the aid of analytics, organizations can monitor the social interactions related to the product or service that they are offering in the market. In addition, with the help of analytics, organizations are able to understand the image of the company with statistical analysis. Organizations are in a position to take decisions on the basis of information provided by such analytics tools which are related to product trends, growth and failure. This is another potential factor that is expected to drive the enterprise social network and online communities market. For example, Alcatel-Lucent, an IT and telecom company, is utilizing enterprise social networking applications to analyze data and to perform several analytical observations in order to under the various problems that the organization is facing. Alcatel-Lucent is also using this technology for communicating with their various offices located worldwide.
High cost of implementation may deter various small and medium companies from adopting enterprise social networks
Since the cost of implementing enterprise social networks is high, such type of system can come across a financial burden to small and medium enterprises. In order to implement such type of platforms in organizations, expansion of IT infrastructure and training of employees is required. In addition, such type of platforms need other business technologies to integrate. This can enable the organizations to use the facilities of these platforms for business purposes, and to improve their communication with their customers. Small and medium sized companies may not be interested to invest in such type of social networking platforms, as the cost of such platforms is high. The high subscription cost of these platforms is expected to have a negative impact on the growth of the enterprise social networks and online communities market during the period of assessment.
Global Enterprise Social Networks and Online Communities Market Analysis, By Industry
The healthcare segment in the global enterprise social networks and online communities market was valued at US$ 729 Mn in 2017. This segment is expected to reach a valuation of US$ 2,548.5 Mn at the end of year 2026, and reflect a CAGR of 15.6% during the period of assessment 2018-2026. The government segment was valued at US$ 414.3 Mn in 2017 end and is expected to reflect an exponential CAGR growth during the period of assessment. The retail and consumer goods segment was valued at US$ 475.2 Mn in 2017 end.